Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-149 - PROPERTY AND CASUALTY ACTUARIAL OPINION ON LOSS RESERVES
Section 482-1-149-.08 - Confidentiality

Universal Citation: AL Admin Code R 482-1-149-.08

Current through Register Vol. 42, No. 5, February 29, 2024

(a) The Statement of Actuarial Opinion shall be provided with the Annual Statement in accordance with the appropriate NAIC Property and Casualty Annual Statement Instructions and shall be treated as a public document.

(b) Documents, materials or other information in the possession or control of the Department that are considered an Actuarial Report, workpapers or Actuarial Opinion Summary provided in support of the opinion, and any other material provided by the company to the Commissioner in connection with the Actuarial Report, workpapers or Actuarial Opinion Summary, shall be confidential and shall not be considered a public record.

(c) This rule shall not be construed to limit the Commissioner's authority to release the documents to the Actuarial Board of Counseling and Discipline (ABCD) so long as the material is required for the purpose of professional disciplinary proceedings and that the ABCD establishes procedures satisfactory to the Commissioner for preserving the confidentiality of the documents, nor shall this rule be construed to limit the Commissioner's authority to use the documents, materials or other information in furtherance of any regulatory or legal action brought as part of the Commissioner's official duties.

(d) In order to assist in the performance of the Commissioner's duties, the Commissioner may:

1. Share documents, materials or other information, including the confidential documents, materials or information subject to 482-1-149-.08(b) above with other state, federal and international regulatory agencies, with the National Association of Insurance Commissioners and its affiliates and subsidiaries, and with state, federal and international law enforcement authorities, provided that the recipient agrees to maintain the confidential status of the document, material or other information and has the legal authority to maintain confidentiality;

2. Receive documents, materials or information, including otherwise confidential documents, materials or information, from the National Association of Insurance Commissioners and its affiliates and subsidiaries, and from regulatory and law enforcement officials of other foreign or domestic jurisdictions, and shall maintain as confidential any document, material or information received with notice or the understanding that it is confidential under the laws of the jurisdiction that is the source of the document, material or information; and

3. Enter into agreements governing the sharing and use of information consistent with 482-1-149-.08 (b and c) above and this rule.

(e) No waiver of any applicable privilege or claim of confidentiality in the documents, materials or information shall occur as a result of disclosure to the Commissioner under this rule or as a result of the sharing of information as authorized in 482-1-149-.08(d) above.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-3-26.1.

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